Michael Kors Up On Expectations Of Improved Q4 Results

Michael Kors Holdings Ltd. is expected to deliver a year-over-year increase in earnings per share and revenue, following a string of depressing results out of the retail sector. Wall Street expects the company’s fiscal fourth-quarter earnings per share to rise 6.6% to 96 cents on sales up 6.2% to $1.147 billion. This results from the fact that Kors has strengthened its brand internationally and could get a lift from spring trends and reduced promotions. The hourly chart shows a steady rise since last Friday. The stock was trading at 42.72, up 2.23% from the previous session. RSI (14) is hovering in the overbought zone, and KORS is expected to continue its bullish trend towards the resistance level at 43.08.

Trade suggestion

Buy at 42.72, SL at 42.30, TP at 43.08

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